Which of the following best defines an excludable good? Choose one: A. Buyers can restrict other buyers from making purchases in that market. B. The government can prevent consumers from purchasing it. C. Once purchased, it is not available for others to buy. D. Sellers can restrict its benefits to those who pay for it.

Question

Business

Ray

2 September, 14:56

Which of the following best defines an excludable good? Choose one: A. Buyers can restrict other buyers from making purchases in that market. B. The government can prevent consumers from purchasing it. C. Once purchased, it is not available for others to buy. D. Sellers can restrict its benefits to those who pay for it.

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Answers (1)

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Sara Soto · Answer 1

Answer:C. Once purchased, it is not available for others to buy.

Explanation:

Economics refers to a good or service as excludable if a person who hasn't purchased it can not have access to it or enjoy its benefits. A good or service that can be enjoyed without having paid for it is called non excludable.

Excludable are those goods that once bought they exclusively belongs to that owner such as clothes, food, cars, reserved parking space. There is a competition for these goods and services cause they get owned privately and can't be available to another person once bought.

No excludable refers to those resources that are commonly shared by the public such as fish stocks, timber and coal. Free air channels and other public goods. There is no competition for these goods cause they are available to all consumers.